Arbitral Digest

Matter

Gecina v Abanca Corporacion Bancaria (Paris Court of Appeal RG 21/19687)

French proceedings concerning Gecina and Abanca addressed claims under comfort letters securing loans and the resulting payment obligations.

  • International commercial arbitration
  • Recognition and enforcement of arbitral awards

Procedural record

  1. 21 May 2019Spain

    21 May 2019Spain

    Judgment of Madrid Court of First Instance No. 69 dated 21 May 2019

    Madrid Court of First Instance No. 69

    Decision summary
    The court ordered Gecina to pay Abanca Corporacion Bancaria €48,713,649.96, with legal interest from 5 September 2014, under three comfort letters issued in connection with loans to Immopark and Immobiliaria.

    Participants

    S.A. GECINA
    Société ABANCA CORPORACION BANCARIA
    Madrid Court of First Instance No. 69

    1 year, 3 months and 17 days later · 475 days

  2. 7 September 2020Spain

    7 September 2020Spain

    Judgment of the Madrid Court of Appeal dated 7 September 2020

    Madrid Court of Appeal

    Decision summary
    The court confirmed the Madrid Court of First Instance judgment of 21 May 2019 concerning Gecina’s liability to Abanca Corporacion Bancaria under the three comfort letters.

    Participants

    S.A. GECINA
    Société ABANCA CORPORACION BANCARIA
    Madrid Court of Appeal

    1 year, 1 month and 20 days later · 415 days

  3. 27 October 2021France

    27 October 2021France

    Judgment of the Paris Judicial Court dated 27 October 2021 (RG 20/01416)

    Paris Judicial Court

    Case no.
    RG 20/01416
    Decision summary
    The court rejected Gecina’s applications to refuse recognition in France of the Madrid Court of First Instance judgment of 21 May 2019 and the Madrid Court of Appeal judgment of 7 September 2020, ordered Gecina to pay Abanca €5,000 under Article 700 of the French Code of Civil Procedure, and ordered Gecina to pay the costs.

    Participants

    S.A. GECINA
    Société ABANCA CORPORACION BANCARIA
    Paris Judicial Court

    1 year, 5 months and 22 days later · 538 days

  4. 18 April 2023France

    18 April 2023France

    Judgment of the Paris Court of Appeal in the case RG 21/19687 dated 18 April 2023

    Paris Court of Appeal, Pôle 3 - Chambre 5

    Case no.
    RG 21/19687
    Citation
    N° Portalis 35L7-V-B7F-CEU3V
    Decision summary
    The court confirmed the Paris Judicial Court’s judgment rejecting Gecina’s applications to refuse recognition of the two Madrid decisions. It rejected Abanca’s €100,000 claim for abuse of process, ordered Gecina to pay Abanca €50,000 under Article 700 of the French Code of Civil Procedure and the appeal costs, and rejected Gecina’s own Article 700 claim.

    Participants

    S.A. GECINA
    Representative
    Luca DE MARIA (For: S.A. GECINA)
    Representative
    MUDRY (For: S.A. GECINA)
    Société ABANCA CORPORACION BANCARIA
    Representative
    Matthieu Boccon Gibod (For: Société ABANCA CORPORACION BANCARIA)
    Representative
    Emilie VASSEUR (For: Société ABANCA CORPORACION BANCARIA)
    Paris Court of Appeal, Pôle 3 - Chambre 5
    Judge
    Hélène FILLIOL
    Judge
    François MELIN
    Judge
    Marie-Catherine GAFFINEL
    Advocate General
    LE MINISTÈRE PUBLIC
    Advocate General
    Madame de CHOISEUL PRASLIN
    Other
    Court Reporter
    Mélanie PATE

    Authorities cited

    5
    • Regulation (EU) No 1215/2012 of the European Parliament and of the Council dated 12 December 2012 on jurisdiction, recognition and enforcement of judgments in civil and commercial matters (Brussels I bis) (Regulation (EU) No 1215/2012, Articles 45 and 52)
      statute
    • French Code of Civil Procedure, Articles 450, 699, 700, 805 and 907
      statute
    • French Civil Code, Article 1240
      statute
    • French Commercial Code, Articles L 225-35 and R 225-28
      statute
    • Spanish Civil Procedure Law, Article 40
      statute

Matter record

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Gecina v Abanca Corporacion Bancaria (Paris Court of Appeal RG 21/19687) · Matter